Earning passive crypto income has never been easier. Wunderbit Trading provides you with everything you need to set up your first fully automated cryptocurrency trading bot. You do need to pay anything for that. Just create an account, find or develop a strategy on Tradingview and deploy it onto your exchange.
In this article, we will tell you how to connect Huobi exchange to your Wunderbit account.
What is Huobi?
Huobi is a cryptocurrency exchange that has been around for quite a long time. It was founded in 2013 and was initially aimed at targeting Asian cryptocurrency traders and investors. However, since then the platform has managed to gain attention from users all around the world and now is one of the largest platforms for selling and buying cryptocurrencies.
Huobi is chosen by many people because it has quite an intuitive design, offers high liquidity, provides relatively low commissions, and has a variety of trading pairs. Moreover, experienced traders can there some advanced trading instruments, such as Margin Trading, Futures Market, and Options with leverage up to 125x. There is also a possibility to collateralize your assets to borrow funds for trading.
Huobi trading bot is an automated crypto-trading software built on top of a TradingView strategy and connected to an Huobi account through the Wunderbit Trading platform.
How to set up a bot on Huobi using Wunderbit Trading?
To connect your Huobi account to Wunderbit Trading, you need to create an Application Programming Interface (API) key. An API key is used to identify and authenticate requests send from a user or a program to another program. It ensures that the connection is secure and the transmission of information is fast.
!Important: When you set up an API key on the exchange account, double-check that you enable the TRADING option and disable the WITHDRAWAL option. This is needed to create orders and trades directly from the Wunderbit Trading platform and prevent anybody from withdrawing funds from your account.
How to create an API key on Huobi?
- Log in to your Huobi account.
- Click on the profile icon in the right top corner and choose API Management.
- Come up with a name for your API profile and enable the Trade option.
- Pass on the verification procedure.
- Your API key is ready to use. Make sure to write down your API key and secret and store them securely, as they will not be shown after you close the pop-up window.